Wilmington Savings Fund Society FSB Invests $973,000 in CDW Co. (NASDAQ:CDW)

Wilmington Savings Fund Society FSB bought a new stake in CDW Co. (NASDAQ:CDW) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,299 shares of the information technology services provider’s stock, valued at approximately $973,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Partners LLC purchased a new position in shares of CDW in the 2nd quarter valued at about $34,000. Quest Partners LLC acquired a new stake in CDW in the second quarter valued at approximately $35,000. Canoe Financial LP acquired a new stake in CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC lifted its stake in CDW by 350.0% in the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in CDW during the 2nd quarter worth approximately $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays decreased their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $248.71.

CDW Stock Down 1.1 %

CDW stock opened at $176.06 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The stock has a 50-day simple moving average of $196.12 and a 200-day simple moving average of $213.43. The company has a market capitalization of $23.46 billion, a P/E ratio of 21.52, a PEG ratio of 5.01 and a beta of 1.02.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.60 earnings per share. Equities research analysts expect that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.42%. CDW’s dividend payout ratio is 30.56%.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.